McKesson Co. (NYSE:MCK) Holdings Lifted by Global Retirement Partners LLC

Global Retirement Partners LLC increased its holdings in McKesson Co. (NYSE:MCK) by 52.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,653 shares of the company’s stock after acquiring an additional 1,610 shares during the period. Global Retirement Partners LLC’s holdings in McKesson were worth $2,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MCK. Old North State Trust LLC lifted its position in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares during the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management lifted its position in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the last quarter. Black Diamond Financial LLC lifted its position in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its position in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after acquiring an additional 20 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 0.5 %

NYSE MCK opened at $602.41 on Thursday. The stock has a market cap of $75.50 billion, a P/E ratio of 27.58, a PEG ratio of 1.27 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company’s 50-day simple moving average is $588.11 and its 200 day simple moving average is $562.19.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is 13.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCK. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.